Lagarde Says ECB Must Continue ‘Reliable’ Funding: Tom Keene
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International Monetary Fund Managing Director Christine Lagarde said the European Central Bank must continue to provide “solid, reliable” funding for euro-area banks and economies as parliaments in the region pass measures into law to fight the region’s debt crisis.
The ECB “plays and can play and I hope will continue to play a critical role,” Lagarde, who took the helm at the IMF in July, said in a Bloomberg Television interview with Tom Keene today. Investors should also “allow the time for democracy” in euro countries that need to approve changes to the bailout mechanism agreed upon by leaders in July.